XN000022-1994-07-28 — Page 13

THURSDAY, JULY 28, 1994

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PROVISIONAL FIGURES OF EXTERNAL TRADE FOR JUNE 1994

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BOTH RE-EXPORTS AND IMPORTS CONTINUED TO RECORD SIGNIFICANT INCREASES IN JUNE 1994 OVER THE SAME MONTH IN 1993, WITH DOMESTIC EXPORTS SHOWING A MODERATE INCREASE.

THESE ARE SHOWN IN THE PROVISIONAL FIGURES OF EXTERNAL TRADE FOR JUNE RELEASED TODAY (THURSDAY) BY THE CENSUS AND STATISTICS DEPARTMENT.

THE VALUE OF RE-EXPORTS, AT $80.3 BILLION IN JUNE 1994, WAS $13.3 BILLION OR 20% HIGHER THAN A YEAR EARLIER.

THE VALUE OF DOMESTIC EXPORTS INCREASED BY $1.2 BILLION OR 6. 4% OVER A YEAR EARLIER TO $19.7 BILLION IN JUNE.

TAKING RE-EXPORTS AND DOMESTIC EXPORTS TOGETHER, THE VALUE OF TOTAL EXPORTS INCREASED BY $14.4 BILLION OR 17% TO $100.0 BILLION IN JUNE 1994. MEANWHILE, THE VALUE OF IMPORTS INCREASED BY $21.5 BILLION OR 24% TO $110.8 BILLION.

AS THE VALUE OF TOTAL EXPORTS IN JUNE 1994 WAS SMALLER THAN THAT OF TOTAL IMPORTS, A VISIBLE TRADE DEFICIT OF $10.8 BILLION, EQUIVALENT ΤΟ 9.7% OF THE VALUE OF IMPORTS, WAS RECORDED. THIS COMPARED WITH A DEFICIT OF $3.7 BILLION, EQUIVALENT TO 4.2% OF THE VALUE OF IMPORTS, IN JUNE 1993.

BY RE-

IN THE FIRST HALF OF 1994, THE VALUE OF TOTAL EXPORTS GREW 10% OVER THE SAME PERIOD LAST YEAR. AMONGST THIS, THE VALUE OF EXPORTS ROSE BY 14%, WHILE THAT OF DOMESTIC EXPORTS FELL BY 4.3%.

SUPPORTED LARGELY BY THE CONTINUED EXPANSION IN HONG KONG'S RE- EXPORT TRADE, THE VALUE OF IMPORTS SHOWED AN INCREASE OF 13%.

IN THE FIRST HALF OF 1994, A VISIBLE TRADE DEFICIT OF $45.8 BILLION, EQUIVALENT TO 8.0% OF THE VALUE OF IMPORTS, WAS RECORDED.

THIS COMPARED WITH A DEFICIT OF $27.8 BILLION, EQUIVALENT TO 5.5% OF THE VALUE OF IMPORTS, RECORDED IN THE FIRST HALF OF 1993.

COMMENTING ON THE LATEST TRADE FIGURES OF 1994, A GOVERNMENT SPOKESMAN SAID THE GROWTH RATE OF RE-EXPORTS, HAVING MODERATED SINCE THE FOURTH QUARTER OF LAST YEAR, SHOWED A SIGNIFICANT PICK-UP IN JUNE.

DOMESTIC EXPORTS ALSO RETURNED TO MODERATE HAVING DECLINED FOR FOUR CONSECUTIVE MONTHS.

INCREASE, AFTER

MEANWHILE, RETAINED IMPORTS IN JUNE 1994 PICKED UP FURTHER TO SHOW A SUBSTANTIAL INCREASE OF 31% OVER JUNE 1993.

FOR THE FIRST HALF OF 1994, RETAINED IMPORTS WAS 12% HIGHER THAN A YEAR EARLIER. THIS SUGGESTS THAT DOMESTIC DEMAND SHOULD REMAIN ROBUST, WHILE EXTERNAL DEMAND IS LIKELY TO IMPROVE FURTHER IN THE COMING MONTHS.

A MORE DETAILED ANALYSIS OF HONG KONG'S EXTERNAL TRADE FOR JUNE 1994, BY COMMODITY AND COUNTRY, WILL BE RELEASED IN MID-AUGUST.

/PROVISIONAL FIGURES